State shuts down 2 collection agencies

State regulators have accused the owner of two Twin Cities collection agencies of using his clients' money for "personal extravagances" and of operating without a license.

Comment

By Associated Press

Crookston Times - Crookston, MN

By Associated Press

Posted Oct. 10, 2013 at 6:00 PM

By Associated Press
Posted Oct. 10, 2013 at 6:00 PM

St. Paul, Minn.

State regulators have accused the owner of two Twin Cities collection agencies of using his clients' money for "personal extravagances" and of operating without a license.

The Minnesota Department of Commerce has placed both businesses into receivership and is seeking to revoke Robert Dunham's debt collection registration. Civil charges against the 50-year-old Lakeville man include commingling customer funds with money for operating expenses.

Dunham owns Receivables Management Solutions and Wentworth Assets.

The St. Paul Pioneer Press says Dunham illegally spent his clients' money on lavish foreign travel, upscale spa and golf resorts and a Corvette. Phone numbers listed for Dunham's business and his home in Lakeville are no longer in service.